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**Exhibit      21**

**SUBSIDIARIES      OF THE REGISTRANT**

| **Parent**                                 |   | **Subsidiary**                                               |   | **Percentage****of****Ownership** |   | **State                of Incorporation or Organization** |
|--------------------------------------------|--------|--------------------------------------------------------------|--------|-----------------------------------|--------|-----------------------------------------------------------|
|                                       |   |                                                         |   |                              |   |                                                      |
| ITLA                Capital Corporation    |   | Imperial                Capital Bank                         |   | 100%                              |   | California                                                |
| ITLA                Capital Corporation    |   | ITLA                Funding Corporation                      |   | 100%                              |   | Delaware                                                  |
| ITLA                Funding Corporation    |   | ITLA                Servicing Corporation                    |   | 100%                              |   | Delaware                                                  |
| ITLA                Funding Corporation    |   | ITLA                Commercial Warehouse Corporation         |   | 100%                              |   | Delaware                                                  |
| ITLA                Capital Corporation    |   | ITLA                Management Corporation                   |   | 100%                              |   | Delaware                                                  |
| ITLA                Management Corporation |   | ITLA                Commercial Investment Corporation        |   | 100%                              |   | Maryland                                                  |
| ITLA                Capital Corporation    |   | Imperial                Capital Real Estate Investment Trust |   | 100%                              |   | Delaware                                                  |
| ITLA                Capital Corporation    |   | ITLA                Capital Statutory Trust I                |   | 100%                              | (1)    | Connecticut                                               |
| ITLA                Capital Corporation    |   | ITLA                Capital Statutory Trust II               |   | 100%                              | (1)    | Connecticut                                               |
| ITLA                Capital Corporation    |   | ITLA                Capital Statutory Trust III              |   | 100%                              | (1)    | Delaware                                                  |
| ITLA                Capital Corporation    |   | ITLA                Capital Statutory Trust IV               |   | 100%                              | (1)    | Delaware                                                  |
| ITLA                Capital Corporation    |   | ITLA                Capital Statutory Trust V                |   | 100%                              | (1)    | Connecticut                                               |
|                                       |   |                                                         |   |                              |   |                                                      |

*(1)*
*Represents      ownership of the common securities of the trust.*